Feeling the Ethereum wave taking over the world yet? In order to be on track with the digitalization of the financial industry, you definitely need to know how to mine Ethers! This review of Top 4 Ethereum mining hardware will aid you in starting your Ethereum mining.
21 June, Ethereum News – Mining Ethereum is a time and power consuming process. Just as I discussed in my Step by step Ethereum mining guide, the only way to get this digital currency is through mining. However, mining Ethereum implies more than just increasing the number of Ethers in circulation. It also means securing the network which in turn, assures the verified calculation.
Everything you need to know about Ethereum mining hardware
If you want to mine Ethereum, you will need the following: Ethereum mining software and hardware, an Ethereum mining pool, and the Ethereum hardware wallet. Let’s be practical and discuss one thing at a time.
Today, we will go over the Top 4 Ethereum mining hardware. You will learn what GPU Ethereum Miner is and how to find the best GPU and rig. Moreover, we will look into actual hardware that can be used for mining Ethereum. Ready?
Mining Ethereum is not only time-consuming process, it is also will cost you extra on your electricity bills. However, if you use the efficient Ethereum mining hardware, you will be able to significantly reduce the operational costs. Bear in mind, that Ethereum mining requires some setup costs. Moreover, the mining process is requiring some level of technical knowledge.
What is a GPU?
If you want to mine Ether, you will need a special hardware known as graphics processing unit (GPU). You will need to have the Graphic Card Unit (GPU) with at least 2 GB of RAM.
The Central Processing Unit (CPU) mining will just waste your time and won’t bring you much profit. The GPUs are 200 faster than CPUs when we talk about mining Ethereum.
How to find the best GPU?
Some of the GPUs have a higher hash power than other. In the same fashion, some of the GPUs will use more of your electricity. While choosing the best GPU for Ethereum mining, opt for finding the balance between the power of the rig and how much you are actually are ready to spend on the GPU and the utility bills.
Note, that some of the costs may vary from one country to another. Since most of the GPUs are sold via Amazon or Ebay, some countries will see the extra shipment costs. Also, consider the cost of electricity in your country.
The electricity cost is a very important factor to consider when choosing the GPU.
Top 4 Ethereum mining hardware
Now, after you have familiarized yourself with the key factors to consider before buying a GPU for Ethereum mining, it is high time to look at the most efficient GPUs in the market.
Now that you understand the factors that make GPU rigs good, here is a list and brief description of the most efficient GPUs on sale. The GPUs presented below are chosen on the basis of the global average cost of electricity. In order to determine more accurate costs, use this Ethereum mining calculator.
#1 Ethereum mining hardware | Radeon R9 295X2 hardware review
The Radeon R9 295X2 is offering the highest hash power (46.0 MH/s) of the Ethereum GPUs on the market. This GPU will cost you around $600, however there is almost none available in the market. On eBay Asus Radeon R9 295X2 is being sold for $1100 - $1800. The daily power cost of Radeon R9 295X2 GPU is about $1.44. The Radeon R9 295X2 has the cost per MH/s of $13.04. This model of GPU will provide you a return per year of $586.43.
#2 Ethereum mining hardware | Radeon R9 HD 7990 hardware review
A Radeon R9 HD 7990 is available on the market for around $680. The daily power cost of this GPU is $1.08, with the hash rate at 36 MH/s. The return per day stands at $1.29, while its cost per MH/s is $18.89. This model of GPU is giving you a return per year of $469.40.
#3 Ethereum mining hardware | Radeon RX 480 hardware review
The Radeon RX 480 is most efficient GPU in the market. The power cost per day shows $0.4320. The hash power if this GPU is 25.0 MH/s. this implies that it has the cost per MH/s at $7.96. The Radeon RX 480’s return per day is standing at $1.21, with a return per year of $440.91. This GPU will cost your around $200.
#4 Ethereum mining hardware | Radeon RX 470 hardware review
A Radeon RX 470 offers you an average hash rate of 24.0MH/s. Its daily power cost is at $0.4320, with the cost per MH/s at $9.13. This model of GPU will give you a return per day of $1.15 and a return per year of $418.16. You will need to pay around $220 for Radeon RX 470.
Do you know some other great Ethereum mining hardware aside from these Top 4 Ethereum mining hardware? Think we missed something? Let us know in the comments section below.